Cibc World Market Inc. Takes $9.22 Million Position in Monolithic Power Systems, Inc. $MPWR

Key Points

• CIBC World Market initiated a $9.22 million position in Monolithic Power Systems by purchasing 6,673 shares during the second quarter. Institutional investors collectively own 93.46% of the company.
• Monolithic Power Systems reported strong quarterly results, with EPS of $6.50 exceeding estimates of $5.87 and revenue rising 47.6% year over year to $980.64 million.
• Despite recent insider selling, analysts remain generally bullish, with the stock holding a “Moderate Buy” consensus rating and an average price target of $1,731.42 versus its opening price of $1,285.03.

Cibc World Market Inc. bought a new position in Monolithic Power Systems, Inc. (NASDAQ:MPWR - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 6,673 shares of the semiconductor company's stock, valued at approximately $9,224,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. OMERS ADMINISTRATION Corp bought a new position in Monolithic Power Systems during the 2nd quarter valued at $6,904,000. Osmosis Investment Management UK Ltd bought a new stake in shares of Monolithic Power Systems in the second quarter valued at $279,000. Sanctuary Advisors LLC purchased a new stake in Monolithic Power Systems during the second quarter valued at about $21,399,000. Solstein Capital LLC bought a new stake in shares of Monolithic Power Systems during the 2nd quarter valued at $68,000. Finally, Polymer Capital Management HK LTD bought a new position in Monolithic Power Systems in the 2nd quarter valued at $3,760,000. Institutional investors own 93.46% of the company's stock.

Insiders Place Their Bets

In other news, EVP Maurice Sciammas sold 30 shares of the company's stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $1,343.94, for a total value of $40,318.20. Following the sale, the executive vice president owned 1,119 shares in the company, valued at $1,503,868.86. This represents a 2.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Kuo Wei Herbert Chang sold 50 shares of Monolithic Power Systems stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $1,420.00, for a total value of $71,000.00. Following the completion of the transaction, the director owned 565 shares of the company's stock, valued at approximately $802,300. This represents a 8.13% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 7,705 shares of company stock valued at $13,058,385. Insiders own 3.60% of the company's stock.

Monolithic Power Systems Stock Down 2.4%

MPWR opened at $1,285.03 on Tuesday. Monolithic Power Systems, Inc. has a 52 week low of $800.97 and a 52 week high of $1,714.09. The firm has a 50-day simple moving average of $1,366.04 and a two-hundred day simple moving average of $1,348.10. The company has a market capitalization of $63.15 billion, a PE ratio of 78.79 and a beta of 1.69.

Monolithic Power Systems (NASDAQ:MPWR - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The semiconductor company reported $6.50 EPS for the quarter, topping analysts' consensus estimates of $5.87 by $0.63. The firm had revenue of $980.64 million during the quarter, compared to analysts' expectations of $903.30 million. Monolithic Power Systems had a net margin of 24.41% and a return on equity of 22.31%. The firm's revenue for the quarter was up 47.6% compared to the same quarter last year. During the same period in the previous year, the company earned $4.21 EPS. As a group, sell-side analysts expect that Monolithic Power Systems, Inc. will post 23.35 earnings per share for the current year.

Monolithic Power Systems Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were paid a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a yield of 0.6%. The ex-dividend date was Tuesday, June 30th. Monolithic Power Systems's payout ratio is 49.05%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Truist Financial raised their price target on Monolithic Power Systems from $1,805.00 to $1,889.00 and gave the company a "buy" rating in a research report on Friday, July 31st. Oppenheimer set a $1,700.00 price objective on Monolithic Power Systems in a report on Friday, May 1st. Arete Research set a $2,013.00 price objective on Monolithic Power Systems and gave the company a "buy" rating in a research report on Thursday. Wall Street Zen upgraded shares of Monolithic Power Systems from a "hold" rating to a "buy" rating in a report on Saturday, August 8th. Finally, Zacks Research raised shares of Monolithic Power Systems from a "hold" rating to a "strong-buy" rating in a report on Thursday, June 18th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $1,731.42.

Monolithic Power Systems Company Profile

Monolithic Power Systems NASDAQ: MPWR is a fabless semiconductor company that designs and supplies high-performance power management solutions for a broad range of electronic systems. Founded in 1997 and headquartered in Kirkland, Washington, the company focuses on analog and mixed-signal integrated circuits that convert, regulate and monitor electrical power with an emphasis on efficiency, integration and power density.

MPS's product portfolio includes DC‑DC switching regulators, power modules, power management ICs (PMICs), LED drivers, battery-management ICs, motor drivers, and AC‑DC power solutions.

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